THE CURRENCY QUESTION.

Auckland Star, Volume XXXII, Issue 45, 22 February 1901, Page 3

THE CURRENCY QUESTION.

BUSINESS WITHOUT GOLD,

At the Wesley Hall last evening Mr Michael Flurscheim delivered a lecture on "Business Without Gold." There was a fair attendance, Mr Samuel Vaile presiding. In introducing the lecturer the chairman dwelt on the vital importance of currency reform. The lecturer stated that gold was neither used nor required in carrying on the commerce of the world, and that not one per cent, of gold existed behind our currency. Th« leciiwer traced the history of exchange. He advocated a note currency, issued against * good security only. and maintained that this would increase in proportion with the wealth produced. The present currency based paper currency on gold, which only existed in a proportion of one per cent. A panic such as took place some time ago in America, when bank after bank was forced to suspend payment, might take place at any moment. Ho had come to New Zealand to introduce the reform, this being a new and progressive country, and the N.Z. Commercial Exchange Company was the outcome of his work. In the course of a few more remarks nt the dose of the meeting the chairman said that he thought the present currency system was very much out of joint.- Several questions were answered, after which a vote of thanks to the. lecturer and chairman, brought the meeting1 to a close.